Tokyo shares open higher

Tokyo shares opened 0.74 per cent higher on Friday after Wall Street snapped a six-day losing streak on better-than-expected economic data.

The benchmark Nikkei index opened up 69.69 points at 9,536.84.

The Nikkei is likely to be supported Friday by an overnight rise in US stocks and a relatively weak yen, Kazuhiro Takahashi, general manager of investment strategy at Daiwa Securities , told Dow Jones Newswires.

US stocks recovered from a June swoon Thursday, lifted by an unexpected narrowing of the US trade deficit in April.

The Dow Jones Industrial Average rose 75.42 points (0.63 per cent) to end the day at 12,124.36, ending six straight sessions of losses since the month began.

Takahashi said the release of Chinese trade numbers later Friday and their effect on China-linked shares such as construction machinery maker Komatsu will be worth watching for signs of a Chinese economic slowdown.

The dollar fetched 80.32 yen in early Tokyo trade, unchanged from New York late Thursday but up from levels below 80.00 yen a day earlier.

The euro firmed to $1.4537 from $1.4509.

Toyota Motor shares rose 2.44 per cent to 3,350 yen in early trade ahead of its planned announcement of its earnings forecast later in the day.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

FC NEWSLETTER

Stay informed on our latest news!

EDITORIAL OF THE DAY

  • Foreign brokerages must be Street-smart to win battle of bourses

    Earlier this week, Financial Chronicle reported that foreign brokerages were failing to crack the retail broking market in India, once seen as very pr

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

India needs to project soft power

The rise from a regional to a global p­ower is ...

Robert Clements

Walk the talk when giving others advice

The only thing one does with advice is to pass ...

Bubbles Sabharwal

Keeping our value system uninjured

Every time one reads a newspaper, there is fr­esh news ...